PVH Corp. Closes Senior Notes Offering

December 20, 2012 10:46 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--PVH Corp. [NYSE: PVH] today announced the closing of its previously
announced public offering of $700 million of 4.500% Senior Notes due
2022. The senior unsecured notes will mature on December 15, 2022. The
Company will use the net proceeds of the notes offering (together with
cash on hand and expected borrowings under a new senior secured credit
facility) to fund a portion of the cash consideration to be paid to
stockholders of The Warnaco Group, Inc. in connection with the Company’s
pending acquisition of Warnaco, to refinance a portion of the Company’s
and Warnaco’s existing indebtedness, and to pay related fees and
expenses. If the acquisition is not completed by August 20, 2013 or if
PVH terminates the merger agreement or otherwise abandons the
transaction prior to such date, then PVH is required to redeem the notes
within 10 days at 100% of the principal amount plus interest to but not
including the redemption date.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: Forward-looking statements made in this press release,
including, without limitation, statements relating to the Company’s
future plans, strategies, objectives, expectations and intentions,
including, without limitation, statements relating to the Company’s
pending acquisition of Warnaco are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot be
predicted with accuracy, and some of which might not be anticipated,
including, without limitation, the following: (i) the Company’s plans,
strategies, objectives, expectations and intentions are subject to
change at any time at the discretion of the Company; (ii) the senior
notes offering that is the subject of this press release was undertaken
in connection with the pending acquisition of Warnaco, and the Company
has intends to borrow additional significant amounts to complete the
acquisition, which will require the Company to use a significant portion
of its cash flows to service such indebtedness, as a result of which the
Company might not have sufficient funds to operate its businesses in the
manner it intends or has operated in the past; (iii) acquisitions and
issues arising with acquisitions and proposed transactions, including
without limitation, the ability to integrate an acquired entity, such as
Warnaco, into the Company with no substantial adverse effect on the
acquired entity’s or the Company’s existing operations, employee
relationships, vendor relationships, customer relationships or financial
performance; and (iv) other risks and uncertainties indicated from time
to time in the Company’s filings with the Securities and Exchange
Commission.

The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.

Contacts

PVH Corp.Dana Perlman, 212-381-3502Treasurer
and Senior Vice President, Business Development and Investor RelationsInvestorRelations@pvh.com

Contacts

PVH Corp.Dana Perlman, 212-381-3502Treasurer
and Senior Vice President, Business Development and Investor RelationsInvestorRelations@pvh.com